In October 2019, Tencent bought a 29 percent stake from Funcom, a developer from Oslo, Norway who made Conan Exiles and Age of Conan. Now, the Chinese company offers to buy all Funcom shares worth US $ 148 million. Considering Funcom has become a publicly listed company, Tencent is ready to buy all shares from other shareholders. Shareholders are free to accept or reject this offer, but Funcom’s management and supervisory board recommends that they accept Tencent’s offer.
Meanwhile, Funcom’s CEO, Rui Casais welcomed Tencent’s offer enthusiastically. He felt, Tencent has a good reputation as a responsible investor in the long run. Not only that, they also have a good ability to handle online games. Indeed, Tencent is known as the biggest gaming company in the world. Currently, they own shares of various large game developers, such as Riot Games, Epic, Supercell, Ubisoft, Paradox, and Frontier. Earlier this month, Tencent also bought shares from Universal Music Group.
“We have a close relationship with Tencent, who is our majority shareholder and we are pleased with this offer,” Casais was quoted as saying by VentureBeat. “We will continue to make great games that will be played by everyone in the world, and we believe, support from Tencent will make Funcom rise to the next level. Tencent can assist Funcom operations and provide insight from their experience as a large company in the gaming industry. ”
Tencent offered to buy Funcom shares for 17 Norwegian krones per share, 27.3 percent higher than Funcom’s share price on January 21, 2020. They said they did not plan to change the Funcom business and would continue to support Funcom-made online games, such as Conan Exiles , Secret World Legends, Age of Conan, and Anarchy Online.
Funcom was founded in 1993. The past few years have been their most successful years after they launched the online survival game, Conan Exiles. At present, they have several game projects. One of the most awaited is a multiplayer survival game based on the science-fiction story made by Frank Herbert, Dune.
“We are amazed by the power of Funcom as a developer of multiplayer, action and survival games. Funcom has a track record of making new games that are long-lived, “said Senior Vice President of Tenent, Steven Ma. “We are happy because we can get closer to Funcom and can’t wait to collaborate with Funcom to make games more fun for all gamers in the world.”